Oil Billion Fund

“Oil Billion” is a fund created for investing part of the profit of the Oil.Vision Project. The creation of the foundation was inspired by the example of Norway.

Wikipedia: The Government Pension Fund Global, also known as the Oil Fund, was established in 1990 to invest the surplus.

Everyone can become a member of the fund. At the stage of fund formation we give out its shares for free as an encouragement for early investments in the oil.vision Project .

A fair system of control is provided by smart contracts of the Ethereum block-chain. Oil Vision Share tokens are issued on the platform of this system.

Oil Vision Share (OVS) provides access to dividends which are paid out of the profit of participating enterprises. The profit is paid in proportion to the number of tokens owned by the fund participant at the time of payment.

We direct 10% of the profit from each object in the oil.vison portfolio to the fund.

The fund issues 1 000 000 000.00 tokens.

Minimum share is 0.01 tokens.

Payments are assigned on the 15th day of each month from 00:00:01 to 23:59:59 JST (UTC +9).

The owner of the token receives a payment in the ETH crypto currency.

Non-distributed tokens do not participate in receiving dividends.

The fund opens an order for the redemption of tokens at a market price every month.

Tokens are non-personalized assets. The owner can freely dispose of them at his discretion, transferring or selling it to third parties. OVS-transfer occurs directly from one purse to another without any intermediaries.

Question: How exactly are token dividends paid?

Answer: Dividends are paid simply for the fact of possession of the OVS token.

How to get your share of income?

become the owner of the Oil Vision Share token

receive your revenue on the 15th day of each month

No further action is required.

Example:

The fund distribution occurs on the 15th day of each month. If you have received a token on the 14th day you will receive an income for the fact that the token is owned by you from 00:00:01 to 23:59:59 JST by the 15th day. Revenue is calculated in the ETH crypto currency at the address of the Etherium purse that owned the token. On the 16th day you can freely transfer the token to another person keeping the received dividends.

Technical details on the Oil Vision Share

We publish technical details of the smart contract under the GNU General Public License – you have the right to copy, modify and distribute (commercial distribution included)

Task: to distribute the Oil Billion Fund income among its participants according to the share of ownership.

Detailing: create a smart contract supporting the ERC20 standard to provide functioning of the fund’s tokens.

Required operating standards and functionality of the smart contract:

provide support for 2 digits after the comma for contract tokens;

release 1 billion units of tokens;

provide the possibility of automatic redemption of tokens from their holders. It is necessary to be able to manage the repurchase process (resume / stop), limit the number of tokens to redemption and set the repurchase price;

provide manual transfer of the token from its owner to any network user;

provide the possibility of transferring part of the tokens to the trusted addresses (distributors) with fixed limit of tokens in the management of each distributor;

the description of the smart contract must be stored within its code;

Solution: The ERC20 smart contract was created, token parameters:

decimals = 2;

INITIAL_SUPPLY = 1000000000 * 10 ** 2;

redemption management functions developed

setByuoutActive () – token redemption mode (enable/disable);

setByuoutCount () – the number of tokens to be redeemed;

setPriceForBasePart () – the price of redemption of 0.01 token (the minimum part);

The function “transfer ()” is developed with the processing of the redemption of tokens;

A mechanism for working with distributors developed

setDistributor () – adds a new address to the list of distributors. Parameters: distibutor address, activity, limit of tokens in management;